Electrical indicating means



FIGJ w. F. QUINBY EIIAL 265,855

ELECTRICAL INDICATING MEANS Dec. 9, 1941.

Filed March 1, 1939 6 Sheets-Sheet 1 POU1Z7 INVENTORS w. E QUINBY J. A.HERBST ATT NEY CBY 771 -TO FIG. 2

. 9, 1941; w. F. QUINBY ETAL ELECTRICAL INDICATING MEANS 6 sheets-sheet 2 lNVENTO-RS W F QUINBY BY J. A.HERB$T V 7 77. M

' TTO NEY Filed March 1, 1959 --'-TO FIG. 3*-

Dec; 9, 1941 w, F. QUI NB Y ETAL 2,265,855

ELECTRICAL INDICATING MEANS Filed March 1,1959

6 Sheets-Sheet s lNVENTO-RS W. F. QUINBY JA.HERBST v BY 7 MAIN DISPLAYFBOARD N 4 TTOR EY 0% 9.1941. w.1-. q'umsym. 2,265,855

' I ELECTRICAL INDICATING MEANS Fi led Marh 1, 1939 s Sheets-Sheet 4 I AUX I Ll ARY DJ SPLAY BOARD 4INVENTORS w. F. QUINBY BY J. A. HERBST HTUF Dec. 9, 1941.

w. F. QUINBY ET AL ELECTRICAL INDICATING MEANS Filed March 1, 1939 6 Sheets-Sheet 5 FIG. 5

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INVENTORS W. F. QUINBY BY J. A. HEEL QZEKNEY Dec. 9, 1941. w. F. QUINBY ET AL ELECTRICAL INDICATING MEANS Filed March 1, 1939 6 Sheets-Sheet 6 U025 ZOQZD-OMPUUJUW MNTOZ xUOPW TIU Patented Dec. 9, 1941 sr'res FFECE ELECTRICAL INDICATING MEAN S Wiiliam F. Quinby, John A. Herbst,

Galion,

Teleregister Corporatio corporation of Delawar Application March 1, 1939, Serial No. 259,238

11 Claims.

This invention relates to electrical indicating means. and more particularly to indicating or signaling apparatus and methods, according to which indicating devices corresponding to a large number of different items may be operated at various receiving stations and all controlled over a single wire or a small number of wires from a signal transmitting station.

'While not limited thereto, the invention is particularly adaptable to the transmission and posting of varying quotations or prices of a multitude of items such as stocks, bonds, commodities and the like. The transmission of the quotation signals is from the transmitting station which may be located within a stock exchange or connected thereto by suitable signaling circuits, and arrangements are provided whereby quotation service is provided to a large number of brokers or others, this service relatingto as many of the stocks or other items as are of particular interest to the subscriber at each receiving station. Y

In systems of this character heretofore devised the receiving apparatus at the subscribers station is complicated in structure, expensive to install and diificult to maintain in operation. The present invention provides a receiving mechanism which is relatively inexpensive to install and, because of the specific construction and arrangement of the circuits employed, is adapted to give reliable and satisfactory operation in service at high speeds, and over long periods of time, with a minimum amount of maintenance and fine adjustments required.

Th objects of this invention include the provision of apparatus of the above indicated class which will be rapid, accurate and dependable in operation and which is adapted to be operated by signals received over a single line wire.

Another object of the present invention resides in the provision of a novel arrangement of distributor structure which receives the incoming quotation signals and retransmits the price signals thereof for actuating the indicators of the selected stocks or items to their new settings insuch manner that the price signals are retransmitted invariably in proper phase relationship with respect to the incoming quotation signals.

Another of the objects of the invention resides in the provision of means in the receiving apparatus for regenerating the signals received from pulsing segments of the receiving distributor and applying the regenerated signals to the received over a line selected stock indicators under control of the quotation signals received by the distributor.

A further object of the invention resides in the combination of a single set of price storage overlap units in a receiving mechanism adapted to receive signals over two channels of communication and circuit means including contacts of the price storage overlap units for transmitting operating impulses to the indicators of both channels.

Another object resides in the provision of stock quotation receiving apparatus in which multiple range selection is effected with a smaller number of range selecting relays than has heretofore been possible with systems employing range selecting relays.

A further object resides in preventing false operation of the regenerative mechanism in an item quotation system, as, for example, when the signals received do not relate to one of the items posted.

Another object resides in the provision of means for operating a plurality of quotation boards, each comprising a plurality of groups of indicators, by means of a single receiving mechanism of the character herein described.

Other objects, features and advantages will more clearly appear from the following description when taken in connection with the accompanying drawings and the appended claims.

The invention resides in the novel signalling features, methods and combinations of circuits and parts as hereinafter described by way of example only, as being illustrative of a certain preferred embodiment of the invention.

In order that the invention will be more fully understood, reference will be had to the accompanying drawings in which Figs. 1 to 4 represent the apparatus and circuits at the receiving station responsive to permutation code signals for converting these signals into selection and indicator operating impulses and applying these signals thus converted to a plurality of quotation boards over two channels of communication.

Figs. 5, 6 and '7 show the plan, front and side elevation respectively, of an overlap unit suitable for use with the system.

Fig. 3 represents a set of signals received by the distributor during one revolution thereof.

Fig. 9 is a diagram showing the relation of the quotation signals received during successive revolutions of the distributor to the indicator operating impulses.

Fig. 10 shows a suitable code for the stock number selection.

Fig. 11 shows a suitable code for price selection.

Fig. 12 shows a suitable code for range selection.

Description of selector The apparatus and circuits of the receiving mechanism shown on Figs. 1 to 4 will now be described. Fig. 1 shows the polarized line relay and distributor RD for receiving the line signals and for generating indicator operating impulses. Connected to the receiving distributor is a stock selection over lap unit settable in accordance with the selection signals received and a price overlap unit settable in accordance with the signals representative of the price portion of the quotation. The receiving distributor is also connected to a group of range relays for storing and decoding the range signals received. A stock selector is operatively connected to the stock selection overlap unit and takes settings in accordance with the signals stored in the selection overlap unit. A group of price relays, designated Pl to P4, is connected to the price overlap unit in such a manner that the operation of any selection contact of the price overlap unit oom-' pletes a circuit to a contact of one of the price relays Pl to P4, whereby the drumsof the selected indicators are moved into positions in accordance with the price signals received by the receiving distributor.

The receiving distributor ED is provided with three distributor rings designated Rl, R2 and R3. Certain segments of the ring RI are employed for receiving the quotation signals. Interspersed with these receiving segments on the ring R! are four groups of transmitting segments which cause impulses to be transmitted to the indicators of the selected stock for posting the stock price. Segments 2, 8, M3, 46, 52, 58 and 64 are connected together in such a manner that seven impulses are transmitted to the selected indicators when this group is selected for operation during the time that these segments are traversed by the distributor brush DB. Segments 6, 59, S and 62 are connected together to transmit four impulses as the segments are traversed by the brush DB. The third group of segments transmits two impulses for operating the indicators, this group comprising segments 28 and 26 whereas the segment M of the ring Rl controls the transmission of a single impulse to the selected indicators.

When the indicators are first selected for operation, a series of H3 impulses are transmitted to the indicators to restore them to their normal or blank settings. The fourth group of segments 4, so, 16, 22. 28, 34, 48, 54, 68 and 66 of the ring R1 are connected together and are employed for initiating these ten restoration impulses.

This distributor structure comprising a series of segments for receiving the incoming quotation signals and another series of segments interspersed with the receiving segments for actuating the selected indicators, provides an arrangement whereby the indicator actuating impulses are invariably transmitted in the proper phase relationship with respect to the incoming quotation signals. The indicators are thus reliably operated by the impulses received by the transmitting means and the system is free from the defeots of other quotation systems of this character wherein the impulse generating means is not embodied in the receiving distributor ring and traversed by the same brush that traverses the receiving segments, such as, for example, the failure of the impulse generating means to start into operation or to be set into operation at the proper time with respect to the incoming quotation signals received by the receiving distributor or, having once been set into operation, to complete its cycle of operation at the proper time with respect to the incoming quotation signals received.

In high speed stock quotation systems such as are adapted to meet the requirements of brokers and others trading on the New York Stock EX- change, it is essential that the timing of the various mechanisms be closedly controlled in order that reliable and accurate service may be furnished, notwithstanding the very high speeds at which the system necessarily operates. It is important that the timing and operating limits of the various parts comprising the receiving and retransmitting mechanism of the system be determined and maintained by means of the physical structure of the mechanism itself, rather than by the skill and judgment of installation and maintenance men. The distributor arrangement disclosed herein comprises one of the various features of our system illustrative of such an arrangement.

The quotation boards are of the general type described in a patent to Haselton et al. No. 1,890,878, granted December 13, 1932. Briefly, such a board comprises a multitude of indicators arranged in groups of 20, each of such groups representing a single stock or item and is divided into five sets or levels of four indicators each for posting the yesterdays close, open, high, low, and last ranges of the stock. The four indicators of each set enable the hundreds, tens, units and fractions portion of the price to be displayed. The indicators are of the well known step-by-step type requiring normalization to the blank position prior to actuation to the proper digit display position thereby to avoid a possible accumulation of errors when changing from one price setting to the next succeeding price setting.

' Fig. 2 shows a group of range selection relays employed with channel I quotations and a second group of range relays employed for quotations on channel 2. Fig. 2 also shows two sets of regenerator units, there being one set for each of the two channels of communication. Each set comprises three regenerator units which are employed normally for operating the tens,- units and fractions indicators of the selected stock. Each regenerator unit comprises the relays A and AA; as for example, for operating the indicator units in accordance with the value of the tens digit of the selected stock. The term regenerator of regenerator unit, as herein referred to, shall be defined as comprising relays A and AA together with an interconnecting circuit and may be of the type disclosed on Patent No. 1,965,377, issued July 3, 1934 to R. M. Hicks et al. The purpose of the regenerator unit is to provide signals of predetermined constant length for the operation of the indicator units and thus insure reliable operation of the indicator units at the rapid rate of posting quotations for which the present system is adapted.

Fig. 3 shows the indicators and selection relay for one of the plurality of stocks posted on the main display board. together with the switching mechanism for controlling the operation of the indicators over either of the two channels of communication. Fig. 3 also shows various relays employed with the system for controlling certain features thereof; as for example, thechannelling, synchronizing and rewrite features; as will be more fully described hereinafter.

Fig. 4 shows the indicator units and selection relay for one of the items posted on the auxiliary quotation board and the switching mechanism associated therewith for controlling the operation of the selected indicators over either of the two channels of communication. There is also shown on this figure the regenerator units for operating the indicators of the selected items. Fig. 4 also shows the range selection relays for channel 2 quotations, the corresponding range relays forchannel I quotations being shown on Fig. 2 of the drawings.

The relation of the quotation signals received by the distributor RD to the restoration and ac-- tuation indicator operating impulses for channel I and channel 2 quotations is illustrated on Fig. 9- of the drawings. Referring to the illustration of Fig. 9, it will be noted that each quotation is composed of four parts: stock number and range selection, restoration and actuation of the selected indicators, the transmission of the entire quotation to the display board occurring during three revolutions of the receiving distributor RD. The quotation signals received by the distributor RD during one revolution thereof comprises the stock number, range and price characteristics of the quotation. These quotation signals are received and stored in the selector while restoration and actuation impulses corresponding to a previous quotation are being transmitted to the selected indicators. Theline signals for a complete quotation are received during a single revolution of thedistributor RD and concurrently with the reception of these signals the stock selection is efiected and restoration impulses are transmitted to the indicators of the selected stock. These restoration impulses continue during part of the second revolution of the receiving distributor thereby causing the selected indicators to be restored to normal. After this has been efiected, and while the second revolution of the receiving distributor is still in progress, actuation impulses are transmitted to the selected indicators to actuate them to their new settings in accordance with the price signals received during the first revolution of the distributor. The actuation impulses continue during part of the third revolution of the receiving distributor in accordance with the numerical value of the price signals received. The indicators are operated by impulses from the regenerator units which are operated from certain segments of the receiving distributor ring RI through the action of pulsing relays, as will hereinafter be described in greater detail.

During the first revolution of the distributor RD the signals received relate to a stock posted on channel I, whereas during the second revolution of the distributor the received signals relate to a channel 2 stock. During each odd numbered revolution of the distributor RD the reception of signals for a charmel I quotation is received and during each even numbered revolution, the distributor receives signals for a channel 2 quotation. During the second revolution of the distributor RD, while restoration and actuation impulses are being transmitted to theselected indicators of the channel I stock which was selected during the first revolution of the distributor RD, the signals for a channel 2 stock are received. While the signals for the channel ,2 stock are beingreceived, the indicators of the channel 2 stock are selected and receive restoration' impulses, these impulses continuing while signals for the second channel I stock are received during the thirdrevolutionof thedistributor RD. The actuation impulses for the channel Z'stock continue during part of the fourth revolution of the receiving distributor while quotation signals-for the second channel 2 stock are being received.

The transmitter suitable for operation with the systemmay be as shown in an application of W. F. Quinby, Serial No. 55,510, filed December 21, 1935 for Signalling systems, or in accordance with an application by W. F. Quinby, Serial No. 167,541, filed October 6, 1937, for Transmitting means, now Patent.No. 2,187,892 dated January 23, 1940. In the aforesaid systems different code combinations are employed for the selection digit I and the pricedigits 9 and I! than are employed in the present system. In the system shown in application, Serial No..55,5l0 the only changes in the transmitting equipment are a rearrangement of the key designations whereby the selectionkey which causes a signal to be transmitted comprising the code units marking, marking, spacing, marking should be designated I and the keys which cause price signals to be transmitted comprising the code units marking, spacing, marking, spacing and marking, spacing, marking, marking should be designated 9 and II respectively. Whereas in the system disclosed in application, Serial No. 167,541, the hundreds stock number coding relay for the digit I isso arranged that it causes the transmission of a signal comprising the code units marking, marking, spacing, marking instead of marking, marking, spacing, spacing and a rearrangement of the key designations whereby the operation of the price digit key 9 causes a signal tobe transmitted comprising the code units marking, spacing, marking, spacing and the price digit keyfl the code units marking, spamarking, marking.

The receiving distributor RD performs three functions, the first of which is to receive the line signals on theodd numbered'segments I to 65 of the ring RI. Of these segments, the segment I isemployed for operating the start magnet SM of the distributor brush DB for operation under control of the line relay LR. The odd numbered segments 3 to 25 are connected tothe selection. magnets of the stock overlap unit, segments 3, 5, I and 9 beingemployed for the hundreds digit of the stock number, segments I-I, I3, I5 and I! for the tens digit and segments I9, 2i, Z3 and 25 for the units digit of the stock number. The oddnumbered: segments 27' to 35 are employed for controlling the posting of rewrite quotations of the quotation board, as will be hereinafterexplained in greater detail. Segments 3.1, 39, ll and 43 are connected-to the operate winding of the range storage relays RI to R4 respectively. Segments 45, 41, 49 and SI are employed for receiving the tens digit of the price, segments 53, 55, 5'? and 59 receive the signals for theunits pricedigit and segments 6|, 53' and 65 the fractions price digit signal. The odd numbered segments 65' to 65 are connected 'to the selection magnets of the price overlap unit POU.

A second function of the distributor RD is tov provide a source of impulses for causing the selected indicators to be restored to their normal positions and thereafter step ahead to the new price positions. .These impulses. are generated by the brush DB passing .over certain of the segments of the ring RI, as will evennumbered be clearly apparent as the description proceeds.

A third function of the distributor RD is to time the operation of that portion of the receiver which decodes the quotation signals in order that the decoding process may start as soon as sufficient line signals have been received, and furthermore, that the various decoding operations follow each other in such timed relationship as to enable the receiver to operate in a manner as to make the most efiicient use of the time allotted to each quotation.

The overlap unit mechanism shown diagrammatically on Figs. 1, 5, 6 and 7 of the drawings is employed to store the incoming signals representing the stock number and price of a quotation while at the same time receiving and storing stock number and price signals of a next succeeding quotation. Whereas two such overlap units SOU and POU are shown on the circuit diagram of Fig. 1 for receiving and storing stock Selection and price signals respectively, it will be understood that a single overlap unit may be employed for receiving and storing these signals. The stock selection overlap unit comprises twelve selection magnets H which are employed for the stock number and the price over1ap unit comprises eleven such selection magnets, each of the magnets having two windings ||-A and ||-B. As shown in detail on Figs. 5, 6 and 7, the selection magnets I I are mounted preferably adjacent to one another and in a single horizontal row on the plate |2 in any well known manner having a portion |3 thereof set parallel with, and in the direction of, the magnet ll. Associated with each magnet II is an armature M which is pivoted at H: and normally rests against the backstop IS. A member holds loosely the armature |4 against the pivot l5.

Each of the magnets upon energization of its operate winding ||-A attracts its armature |4 thereto, and causes the contact spring I8 to be operated and make contact with spring l9, these springs I8 and l9, as well as springs 2| and 22 which comprise the pileup 23, being normally electrically separated from one another by suitable insulating material 24. Now referring to Fig. 1 it will be seen that springs l8 and l9 of the various magnets H, in closing, connect ground to one end of the associated locking wind ings ||-B thus locking up the armatures M (Fig. 7) of the energized magnets Referring to Fig. '7 it will be noted that an armature M, when attracted by its associated magnet causes the insulator 25 to thrust upward against the spring 2| so that its contact engages with that of spring 22. This function, however, is prevented by the bar 26 which restrains the upward movement of the spring 2|. After the various magnets II have been energized to store the code signal of a quotation, the magnets 21 attract their armatures 28 thereby withdrawing the bar 25 from engagement with the several springs 2|.

Withdrawal of the bar 26 from engagement with the spring 2| permits each of those springs whose associated armature M is being attracted by its magnet II to be forced upward so that the contact of spring 2| engages with that of spring 22. Those springs 2| and 22 whose contacts have become engaged with one another are maintained in that position after their magnets have become deenergized by the subsequent return of the bar 25 to its normal position. In the event that some of the springs 2| and 22 have been previously held in the operated position by the bar 26, the operation of this bar will permit the springs 2| to return to their normal positions provided, however, their associated magnets II are not energized, in which latter case each of the energized magnets II will attract its armature l4 thus holding operated the associated springs 2| and 22.

As the magnets 2'! become deenergized, armatures 28 under tension of springs 29 return to rest against the stop screws 3|, thus returning bar 26 to its normal position. The bar 26 having returned to its normal position, holds operated those springs 2| and 22 which were operated by the energization of their individual magnets H, and prevent those springs 2| which are not in engagement with springs 22 from becoming so engaged by the subsequent operation of their armatures |4 until such a time as the bar 26 is again withdrawn from engagement with the several springs 2|.

Each overlap unit also comprises a pair of normally closed contacts 32 and 33. These contacts are supported by springs insulated from one another and from a supporting member 34 by suitable insulating material 35.

Springs 32 and 33 are controlled by a latch 35 which is joined to the bar 26 by a hinged pin 31. The latch 36 is under tension downward and is held against the eccentric adjustment screw 38 by the action of the spring 39. Movement of the latch 36 to the left by action of the bar 26 causes the inclined portion 4| of the latch 36 under tension of the spring 39 to slide downward on the screw 38 thus causing the left end of the latch 36 to be lowered.

As latch 36 continues to move to the left, a tip 42 rides over the top of spring 43.

As herebefore stated, the bar 26 in moving to the left allowed the springs 2| whose associated armatures M were being attracted by their magnets to operate, and those springs 2| whose associated magnets l were deenergized, remained unoperated or returned, if previously operated, to their normal unoperated positions. As the bar 28 returns to its normal position to maintain the various springs 2| in the position in which they have been operated by the magnets II, the latch 36 is moved to the right. As the latch 36 moves to the right the tip 42 engages the spring 43 and moves it together with the insulator 44 and spring 32 to the right, thus disengaging the contacts of the latter spring from that of spring 33.

Referring to Fig. 1, it will be seen that the opening of contacts 32 and 33 removes ground from the contacts IQ of the magnet H of the overlap unit thus causing the deenergization of any of the magnets I! and release of their armatures I4 which may have been operated and whose springs 2| and 22 are now held engaged by the bar 26.

As latch 36 continues to move to the right, the inclined portion 4| rides upward on the screw 38 thereby causing the left end of latch St to move upward and disengage the tip 42 from the spring 43 thus allowing the contacts of springs 32 and 33 to again close to supply ground to the springs |9 for locking the magnets 5| when subsequently operated.

The function of the stock selector indicated diagrammatically on Fig. 1 within the dotted rectangle S, is to receive the stock number in numerical code from the overlap unit and to close a pairof contacts thereby to cause the operation of a stock relay and select the indicators of the desired stock which may lie within either the channel 'I or channel 2 section of the display board.

In the specific embodiment of the invention shown on the drawings each stock is represented by a three digit number, the stock numbersbeing duplicated on each of the two channels thus providing a system adapted to post the prices of 2000 different stocks. The stock selection equipment has for its essential feature a set of notched code bars 45 similar to those used in certain of the well known telegraph printers which have been in commercial use for several years. The code bars I8 are arranged in three sets of four each and include a channel Code bar, and these bars take settings under control of the selection magnets corresponding to line impulses received for a stock abbreviation and also in accordance with whether the price of a first orsecond channel stock is to be posted. Each stock abbreviation usually comprises three characters each represented by a four unit permutation code and the twelve code impulses or spaces thus received determine the selection of the particular code bars 45 to be operated, the thirteenth code bar automatically taking its settingunder control of local circuits in accordance with whether the stock to be selected is situated within the channel I or channel 2 section of the board.

Located transversely to, and above the thirteen code bars are any desired number of stock bars 46, there being preferably one hundred stock bars for each unit of the equipment and as-many units as are required for the number of stocks to be posted. Each of these stock bars is so notched with respect to the thirteen code bars that a particular setting of the code bars is required to permit it to move parallel to its length under control of the usual coil spring. Thus, for every possible setting of the code bars as determined by the line impulses for a stock abbreviation and whether it is a first or second channel quotation, there is one corresponding stock car which will move after the stock abbreviation and channel information has been received and the code bars set. a pair of electrical contacts individual to each stock bar thereby applying battery to the winding of the selected stock relay to cause ittooperate and connect the indicators of the selected stock to their pulsing circuits.

When the selection overlap unit operates, battery is connected to the selected ones of the various selection magnets SID, SZD and 33B of the stock selector S. As indicated on'Fig. 1, the circuit for these magnets is closed at the time the storing of the stock number selection information has been completed. After these magnets have been energized and have operated their associated code bars 45, the selected stock bar 4-6 will move to the right and apply battery to the coil of the stock relay of the particularchannel in accordance with the operated condition of the selection magnet CH of the stock selector.

The operation of the various circuits of the selector shown in Figs. 1 to 4 will now be explained. The operation of the selector will best be understood by consideration of a particular example. Let it be assumed, therefore, that signals indicative of a quotation for a channel I stock having a stock number 123, Unison range and a .price of 98 T4; were transmitted to theline relay LR over the line 5! thereby causing the tongue of the line relay-to be moved intoengagement with contact M or S in accordance with whether the. incoming line .signalis. marking...or

In moving, the stock'bar closes spacing in character. Whereas one end of the winding of the line relay LR is shown connected to ground, it will be understood that several line relaysmay be connected either in series or in parallel, as is well known in the telegraph art thereby enabling several selectors to be operated simultaneously under control of signals received over a single circuit. In the following description it will be understood that very frequently more than one of the circuits are completed simultaneously Whereas in describing the same it will, of course, be necessary to describethem successively.

During the time-that quotationsignalsare-not being transmitted over-the line H, the polarized line relay LR receives a marlnng signal and maintains its armature against the contact M. When quotation signals are to be received by the line relay, spacing battery is applied to the line 5| causing the tongue of the line relay LR. -to move into engagement with-the contact S, thereby applying battery to the start magnet SM from whence the circuit is continued through seg ments Iof the ring RI, brush DB and ring R2 to ground. The start: magnet operates andattracts its armature 52, thereby releasing the brush DB for one revolution. During the op-erationof the receiving distributor the'line relay is moved from marking to spacing in accordance With-the line signals received. The first four signals received following the start signalareemployed for selecting the hundreds digit of the stock number, the next four signals the tens digit and the next succeeding four=signals the units digit of the stock-number, the stock numberselection signals being -inaccordance with the selection code show-n on-Fig. l-Oof thedrawings. Following the twelve code unit-signal employed for stock selection, is-a five unit signal for controlling the selectiveoperation of the subscribers board, as will more clearly-appear as-the description proceeds. Following this signal is a .four unit code signal for selecting the group of i-ndicators corresponding to therange or rangesof a selected item in accordance with the-code arrangement shown on Fig. 12. Following the rangeselection signals-is a four unit-code signal employed for selecting the tens'digit of the price, a four unit signal forthe units-digit and, lastly, a threeunitsignalfortherfractions digit of the price. A codesuitable for the priceinformation is-shown on Fig. 11 of the drawings. 1

In theexample assumed, the hundreds digit of the stock number is l, and therefore units 1,-2

and 4-wil1 be marking and unit 3- of this-signal will bespacing in character. During'the time that the brushDBis in engagement with segment 3 of the ring'RI, the tongueofthe line relay wi1l-be in engagementcw-ith the marking contact -M and battery will beapplied 'to conductor 53 extending-to the first selection magnet II of the selection overlap unit SO-U from whence the circuitis continued through-segment 3- ofthering RI, brush DBandring-RZ toground, thereby causing this selection magnet I I to operate through the action of its winding IIA -and close a locking circuit comprising battery and armature 32 ofthe overlap unit'SOU, contact 33,

conductorl5 l, winding IIB of the selection magnet II, contacts I8 and I 9, conductor 15.5,. and thence to .ground thereby maintaining. the magnet II energizedafter thebrushDBihas moved out of engagement with segment 3 .of the ring R I.

During-the time the brush-.DB-is in=engagement with segmentfi.ofcthe ring R-I the tongue-- of the relay LR is against the marking contact thereby applying battery to conductor 53 and operating the second selection magnet II of the overlap unit SOU over a circuit including segment of the ring RI, brush DB and grounded ring R2. This second selection magnet also looks to battery on conductor 54 in a manner similar to the locking of the first selection magnet II.

During the time that brush DB is in engagement with segment I of the ring RI, the tongue of the line relay is resting against the contact S and battery is thus removed from conductor 53 thereby preventing the operation of the third selection magnet II. When the brush DB is in engagement with segment 9 of the ring RI, the tongue of relay LR is against the marking contact M and the fourth selection magnet is therefore operated. The code signal corresponding to the hundreds digit of the stock number has now been received and stored in the selection magnets of the overlap unit SOU.

When the distributor brush engages segment I I of the ring RI, the line relay is in the marking position thereby causing the operation of the associated selection magnet I I.

When the brush is in engagement with segment I3 of the ring RI the line relay is in the spacing position and the associated selection magnet II is, therefore, unoperated. During the time segment I5 is being traversed by the brush DB the line relay is in the marking position and the associated selection magnet is operated. The selection magnet associated with segment 11 of the ring RI is unoperated as during the time ground is applied to this segment by the brush DB, the line relay is in the spacing position. The tens digit 2 of the stock number having the code units I and 3 thereof marking and the units 2 and 4 spacing in character have now been stored in the selection overlap unit SOU.

Similarly, as the distributor brush passes over the group of segments I9 to the selection magnets associated with segments I9 and 25 are operated and the selection magnets associated with segments 2| and 23 are unoperated thereby storing the units digit 3 of the stock number having the code units I and 4 thereof marking. The entire stock number is now stored in the selection magnets of the selection overlap unit.

Since in the example assumed, the selective rewrite operation of the subscribers equipment was not included, the line relay will receive spacing impulses during the time that the distributorbrush traverses segments 21, 29, SI, 33 and 35 of the ring RI. As segment 31 of the ring RI is traversed by the brush DB, ground is applied to conductor 3 of cable extending to one end of the operate winding of relay RI, the other end of this winding being connected by conductor 53 to the contact M of the line relay LR. Since in the example assumed the signals for a unison range are being received, code unit 3 will be marking the code units I, 2 and 4 spacing in character. At the time that the distributor brush is in contact with segment 37 of the ring RI, therefore, the tongue of the line relay will be against the spacing contact thereby removing battery from conductor 53 and preventing the operation of the relay RI. With the distributor brush in engagement with segment 39 of the ring RI, ground is applied to conductor 4 of cable 55 and thence to one end of the operate winding of the range relay R2, the other end of the relay winding being connected by means of conductor 53 to the marking contact of the line relay. Since the second unit of the code for the unison range is spacing in character, the tongue of the relay LR will be disengaged from its contact M and relay R2, therefore, will not be operated.

With the distributor brush in engagement with segment 4| of the ring RI, ground is applied to conductor 5 of cable 55 extending to the winding of relay R3 from whence the circuit is continued by way of conductor 53, contact M and armature of line relay LR to battery causing relay R3 to operate and look by way of its make contact and armature 5T, conductor 58, armature 59 and break contact of relay RLS-I and thence to battery. As the distributor brush engages seg ment 43 of the ring RI, ground is applied to conductor 6 of cable 56 and thence to the winding of relay R4, the other end of the relay winding being connected to contact M of the line relay by way of conductor 53. Since the fourth unit of the unison code is spacing, battery is not applied to contact M of the line relay LR and the range relay R4, therefore, does not operate. The signal for unison range is now stored in the group of range relays Rl to R4.

The signals for the first unit of the coded signal corresponding to the tens digit 9 of the price is received during the time that the distributor brush DB is in contact with segment 45 of the ring RI. Since this unit is marking in character, the line relay applies battery to conductor 53 extending to the winding IIA of the first selection magnet of the price overlap unit POU from whence the circuit is continued to segment 45 of the ring RI, brush DB and grounded ring R2 of the distributor thereby causing this selection magnet to operate and complete a circuit from grounded conductor 55, contacts I9 and I8 of the selection magnet, winding IIA thereof, conductor 6|, contacts 32 and 33 of the overlap unit POU and thence to battery thereby maintaining the selection magnet II energized after the distributor brush has passed beyond segment 45 of the ring Ri. As the distributor brush passes over segment 4? of the ring RI, the second selection magnet II is not operated as the tongue of the line relay is resting against its spacing contact at this time. As the distributor brush passes over segment 49 of the ring RI, the third selection magnet of the overlap unit POU is operated as the tongue of the line relay is resting against its marking contact during this time. When the distributor brush engages segment 5i of the rin RI, the tongue of the line relay is resting against the contact S and the fourth selection magnet is, therefore, not operated. The signal for the tens digit 9 of the stock price has now been received and stored in the price overlap unit.

As the distributor brush engages segment 53 of the ring RI, the fifth selection magnet of the overlap unit is operated by the line relay LR engaging its marking contact. During the time that the distributor brush was crossing segments 55 and 51 of the ring RI, spacing signals were received by the line relay and the associated selection magnets II therefore are not operated.

When the distributor brush engages segment 59 of the ring R1, the tongue of the line relay will be resting against its contact M and the eighth selection magnet of the price overlap unit will, therefore, be operated. The signal for the units digit 8 has now been received and stored in the overlap unit POU.

As the distributor brush engages segments BI,

63 and- 65 of the ring RI, the line relay is receiving marking impulses and, therefore, applies battery at the armature thereof to conductor 53 causing the last three selection magnets of the price overlap unit to be operated to store the fractions digit Each of the selection magnets II of the overlap unit POU, when operated, locks by means of its winding HE and contacts I8 and I9 to the grounded conductor 55 and the conductor BI under control of the contacts 32 and 33 of the overlap unit to battery. The selection and price signals for a complete quotation have been received and stored during this first revolution of the distributor RD.

When the distributor brush DB engaged segment SS of the ring R3 during this first revolution of the distributor, ground was applied to the winding of relay SS causing the relay SS to perate and move its armature 62 into engagement with the make contact thereof, thereby applying battery to conductor 63 extending to the clutch trip magnet CTM of the stock selector S. The stock selector may be any of the types suitable for the purpose, several of which are well-known in the art, and may generally correspond to the mechanical stock selector unit illustrated and described in the patent to Hicks et al., No. 2,162,170, issued June 13, 1939. The magnet CTM operates over the circuit just described thus setting the stock selector S into operation to actuate its contact and reset bails thereby to cause the selected stock bar to move and close its pair of contacts in accordance with the settings of the selection magnets of the groups SID, SZD, SSD and the CH selection magnet. though the stock selector clutch shift magnet operates at this time, the selected stock bar does notmove to its operated position until after the selection bars have taken their settings, as is well known-in selectors of this type. Various details of construction which may be utilized in such selectors are disclosed in the patent to Krum et a1. 2,147,656 and the patent to Morton 2,200,802.

Whenthe distributor brush DB engages segment CH of the ring R3, ground is applied to conductor '2 of'cable 64, armature 65 and break contact of relay CH2, operate winding of relay CHI} break-contact and armature 6B of relay SYN to battery thereby causing relay CHI to operate and move its armature 61 into engagement with the contact thereof. When the distributor brush leaves segment CH of the ring R3, ground is removed from conductor 2 of cable 64 thereby causing relay CH2 to operate over the following circuit: Battery at armature 66 and break contact of relay SYN, winding of relay CHI, make contact and armature 67 of relay CHI, winding 680i relay CH2 to ground. When armature I0 of relay CH2 engaged its make contact, battery was applied to conductor I' l of cable 69 thereby causing relay TRI to operate and. thus select the range relays of channel I for operation.

When the distributor brush engages segment RLS of the IingR3, ground is applied to conductor 3-of cable E54 extending to one end of the winding of relay RLS, the other end of this winding being connected to battery. Relay RLS operates and moves its armature 68 into engagement with the make contact thereof thereby applying battery to conductor I3 of cable 68 extendingto'the trip magnets "21 of the overlap units'SOU and POU thereby causing the trip magnets to operate' and transfer the settings of therselecti'on magneta I Ito their associated contacts 2-I and22. With the contacts 2I and 22 in engagement with one another, a circuit is closed from battery at armature ll of relay RLS and make contact thereof, conductor I of cable 69 extending to the contacts 2| of the selection overlap unit SOU from whence the circuit is continued by the operated ones of these contacts and their associated contacts 22 to the selection magnets SIDI, SID-2, SZD-I, S2D-3, S3DI and S3D4 of the stock selectors, the other end of the windings of these selection magnets being connected to ground. These selection magnets operate and attract their armatures thereby causing their associated selection bars 45 to be moved by the reset bail to the operate position. The operation of relay RLS at its armature II' connected battery to armature I2 and make contact of relay CH2, conductor 2 of cable 89 extending to the selection magnet CH of the stock selector S thereby operating the selection magnet CH and thus causing its selection bar to be moved to the operate position since, in the example assumed, the stock to be selected lies Within channel I. The selection signals for the stock I23 of channel I have now been transferred to the stock selector and the selected stock bar will be moved by the contact bail of the stock selector to close its associated contacts during the time that the rewrite signal is being received and not later than the time when the distributor brush engages segment LC of the ring R3. The closure of the contacts and 86 of the stock selector S completes a circuit from battery at armature 82 and break contact of relay RRI,

armature 83 and break contact of relay RLS-I,

resistance R, conductor 86 contacts 85 and 86 of the selected stock bar, conductor I of cable 8?, winding of the stock relay Gand thence to ground. The resistance R is sufiiciently high in value to prevent the operation of the relay G, the flow of current through the winding of the relay G being employed to cause the relay to operate very quickly after the resistance R is short-circuited by the operation of the relay LCI or LCZ, as the case may be.

As the distributor brush DB leaves segment RLS, relay RLS releases. When the distributor brush engages segment TR of the ring R3, ground is applied to conductor 4 of cable 64, armature i3 and break contact of relay TRS, winding of relay TR2, break contact and armature I4 of relay TR3 to battery causing relay PR2 to operate and at its armature I5 and make contact apply battery through resistance It to Winding ll of relay TR3. However, ground on conductor 4 of cable 65 is applied by way of armature 9i] and break contact of relay TR3 to one end of winding I? of relay TR3, which does not operate at this time due to the application of ground to both ends of its winding 11. When the distributor brush DB leaves segment TR ground is removed from conductor l of cable 64 and relay TR3 operates from ground through the winding TI of relay TRS, resistance I6, make contact and armature I5 of relay TR2 to battery.

When the distributor brush engages segment LC of the ring R3, ground is applied to conductor 5 of cable 6 3, armature I9 and make contact of relay CH2 and thence to the Winding of relay LCI thereby causing relay LCI to operate and at its armature SI complete the following circuit: Battery at armature 82 and break contact of relay RRI, armature 83 and break contact of relay RLS-l, conductor 1 of cable 69, armature 84 and make contact of relay (EH-'2, armature- 8I and make contact of relay LCI, conductor 3 of cable 69, contact spring 85 and contact 83 of the operated stock bar 4% of the stock selector S, conductor I of cable 87, winding of the stock relay G and thence to ground. The stock relay G operates over the circuit just described thereby selecting the indicators of the stock I23 for operation. The relay G remains looked after the stock selector bar has restored over the following circuit: Ground, winding of relay G and make contact 88 thereof, contact 89 of the slidable member 95, conductor 2 of cable 92, armature 93 and make contact of relay LCI, locking winding of relay LCI, break contact and armature 94 of relay CHI in parallel with break contact and armature 'II of relay RLS and thence to battery. Relay LSI is thus held locked in series with the winding of the selected stock relay G over the circuit just described after the distributor brush DB has left segment LC of the ring R3. The operation of relay LC! at its armature 85 completed a circuit from battery at armature B2 and break contact of relay RR-I, armature 83 and break contact of relay RLSI, conductor I of cable 6%, armature 84 and make contact of relay CH--2, armature 95 and make contact of relay LCI, conductor 6 of cable 69, conductor 86, armature ill and break contact of relay RI armature 93 and break contact of relay R4, armature Q9 and make contact of relay R3, conductor 3 of cable I85, armature I02 and make contact of relay TRI, conductor 3 of cable I83, operate winding of relay OP--I and thence to ground thereby causing relay OP-I to operate and look over the following circuit: Ground, locking winding, make contact and armature IE4 of relay OP--I, conductor I35, conductor 5 of cable I65, make contact and armature lllI of relay LC-I and thence to battery.

With range relay R3 operated and relays RI, R2 and R5 unoperated, a circuit is completed from battery on armature B9 and make contact of relay R3 through armature I528 and break contact of relay R2, conductor 4 of cable I51 through the winding of the range relay Hl-I and thence to ground causing relay HI-I to operate and at its armature Hi9 and make contact thereof lock to battery on conductor I85 under control of relay LCI. A circuit is also completed from battery on armature 99 and make contact of relay R13, armature 68 and break contact of relay R2, conductor iii, break contact and armature H2 of relay R 5, armature I i3 and break contact of relay Ri, conductor IE4, conductor 5 of cable Ifil, winding of relay LO-I and thence to ground thereby causing the range relay LO--I to operate and look by way of its contact and armature H5 to battery on conductor IE5. Another circuit is completed from battery on armature l 52 of relay R4 by way of conductor I56, conductor 6 of cable lllI to the winding of the range relay LAI and thence to ground thereby causing the range relay LAi to operate and look through its contact and armature II! to battery on conductor I65.

The unison range signals having the third code unit thereof marking in character have stock on channel 2, relay TR-I would have been unoperated and the corresponding range relays OP-2, HI2, LO2 and LA2 would have been operated. The operation of the selected stock relay G and the range relays has closed the circuit in part for the operation of the indicators of the selected stock. The manner in which the indicator operating impulses are generated and applied to the selected indicators will presently be described.

When the distributor brush DB engages segment RLSI of ring R3, ground is applied to conductor H3 extending to the winding of relay RLSI thereby causing relay RLS-I to be operated during the time that the distributor brush is passing over this segment of the ring R3. The operation of relay RLSI at its armature 59 removes battery from conductor 58 thereby causing relay R3 to release. The operation of relay RLS-I at its armature 83 removes battery from one side of the locking winding of relay LCI thereby holding the gang relay G and the relay LCI operated after the distributor brush has left segment LC, the circuit extending from ground through the winding of relay G and make contact 38 thereof, contacts 89 of the slidable member 5i, armature 93 and make contact of relay LC-I, locking winding of relay LC--I, break contact and armature 94 of relay CH-I in parallel with the break contact and armature 'II of relay RLS and thence to battery.

The operation of relay LC-I at its armature I I9 applied battery to conductor I2I extending to one end of the winding of the restoration pulse relay PR from whence the circuit is continued through the winding of this relay by Way of conductor I2 of cable 69 to segment 48 of the ring RI. The engagement of segment 48 by the distributor brush DB applies ground to conductor I2 of cable 65. causing relay PR to be operated during the time that the brush is in engagement with this segment thereby to cause the first restoration impulse to be transmitted to the selected indicators in the following manner. When armature I22 of relay PR engaged its make contact, battery was applied to armature I23 and make contact of relay TR2, conductor I of cable I24, armature I25 and break contact of relay US-I, winding of relay AI, break contact and armature I26 of relay AAI and thence to ground, the relays AI and AAI comprising the regenerator RGR-J of channel I, causing relay Al to operate and lock by way of its make contact and armature I2I to battery. The operation of relay AI at its armature I28 applied battery through resistance I29 to the winding of relay AAI thereby causing relay AAI to operate and at its armature I28 remove ground from the winding of relay AI whereby relay AI releases and at its armature I28 releases relay AAI.

When armature I3I of relay AI engaged its make contact, battery was applied to conductor I of cable I32, armature I33 and make contact of relay OPI, conductor 5 of cable I34, break contact of slidab le member 9I, contact I35 of the relay G, winding of the tens indicator of the Open range, contacts I36 and thence to grounded conductor I31 thereby operating the open tens indicator.

The release of relay AI of the regenerator RGR-I interrupted the circuit to the open tens indicator unit thereby causing the indicator to be stepped ahead to the next position in response to the first restoration impulse. When armature I31 of relay PR engaged its make contact; battery was applied to; rmaturel38 ar d make contact of relay TR. 2, conductor 2 of ca-.7 ble I24 and thence tojthe w ding of relay At of the regenerator unit RGRt-ez thereby causing; the operation of: relay A2-., When armature l39; l y;PR en aged som co t ct. ba e we ie pl d to ma ur ML nd k n ac o r lay c nduq roo cable 24. ex.- ens infa to e inepi, r a At t t e. ne t r ESE- thereb c us ng e perat qn oi r e .Releysl i nd A? W en r; r te nlq 19 l ai ta an 1 531 Wain? operation of relays AA2 and AA3 respectively in a manner similar to that of regenerator whenrelay A2 operated battery atjts armatu're [42' was" ahplied -tolconductor Z' of cable I32; armature [43. and make contact of relay OR-E-IQ, conductor Goi cable I34; contacts of slid able member 19 I contacts" m om ela fa; windf; ing of; the units indicator ortneope range and Contact [36 thereof to q inded conductor l3 l tliei eby operating the: open units indicator and causing it tofbe'stepbe'd' ahead; t the next' position when'relay' A2 releases; The operation; of relay. 3 at its, a mature 145" applied battery" to condiiet'or ii pf cabl'j32, a mature; I14! and make oontact fj relay 0P9]; conductor T of. paste; 134, contacts of nienibei ,9 contacts I48 of, re ay gg wmemg of the" fractions mdica'tor of the Open; range, ontact 1453f tblQ 'l idedf con duct'or I31, thereby advancing the fractions in; dreamt; one 's'tep'in' response to the first restorai r'ii inpuils i y 1 The Operation i I' l YLA at tsem re L51 1 lplb ledf e yi "e d qt rfio t ale1 2; a -Q a re i .1 ma e ne t. o t la ii lct 'fl 0 :c lei 34." ntact iqf; me 'er 8'! contacts, 1ar ay"e-itqf naw nt etjt i e nd cat ithei' H e mn eom name the ci u -i c n nu d; thr ughiqqet 'ct 54. of A the indicator to grounded I onductor 31 f'or e u tm he h te india pbn iltoi the fir t" e teem: imp l es I 19 ema n n tens; and fractionsj i ndic a'tors10f each of; the selebtedranges of-the -stock lniare operated by, the regenerator's non an f andf Rania over circuit p'afths including erateo; contacts of the rangerelays" HL-l; LO'I and Ila-11 v when; the monster? brush ngages segment f 5!! onnenngm', ground'is applied to conductor 12 of cable 6!? to again operate the pulsing rela'yPR and the regenerepo rsnonm; R R Z a'f ende r and thus'transinit the swine reef tor ati'onir'npulse tdtl ieselected indicators; When thedistributor' musirepgages segments 60" and" ever the 'ring' Rl the third" and-'iourth restora moii hn pu'ls's are transmitted to" t e indicators of the selected stock, the pulsing'relay PR' hav mg oeeratea to transmit fou'r' restoration imto' the in'dic'ators of' thes'took selected duringthis st revolution of'the' distributor; v

At the end" of the first revolutionof the" re-' ceiving" distributor RD theline" relay d;':r eratedto'move th'eannature thereof intioien gagement 'vrith contact Sthereby applying bat tery to 'the startmagnet SM and" causing it to" operate over a oircuitdncluding' segment I' of the-ring'R'I, briish DB andg'roundedring R2? The" operation of the start magnet causes the armature- 5'2 thereof tobe 'attractedthusfrelea's ingthe distributorbrush'for a second revolution: During this" revolution the signals'for; a" channel 2* quotation are received" by: the odd :numbered segments of'ringR-l'or" blank signals are re-' el en asth c se may bet. t e example-ass umed, i, ;'c.e :Qnlyoo e channel .1 quo io s to e re eive dur th se o d and subseq en revolutionsoi the receiving distributor only blank signals will bereceived 7 w v Whenthe distributorbrush DB engages" segmentq of; the ring R1! groundfisapplied .to con-n ductolj 12. 9t cable 69 ,to cause 1 the operation, of the pulsing relay PR ,and regenerator units TRGR-l, RGR-2 and RGR-3 to transmitijth'e fifthrestoration"impulse to thefindicators of the selected. stock, Similarly the .sixth, seventh," eighth, ninth; and tenthtr'estoration impulses-are transmittedas the distributor brushvengages seg I ments Ill, I6," 22;}? and 34 respectively. When? the distributozi brush passes ofi segment 34; of the ring- Rji all of thepselected indicators will be on their blank positionswith their windingsv disconnected from groundedlconductor I 3] and c.on.-.

a-reungrounded at thistime;

When the distributor brush DB engagedwegment CH of the ringR'3,*ground'wasiap1i1ied"to conductor Zof cable 64, armaturextE afidnia'ke contact of relay CH2',iarlnature'. I65" and make contact of-relay gCHL to one endof'theiwinding I of relay C I-II fromwhencethe circuit'is con tinued throu h break contact and'arm'aituiei'fifi' ofrelay SYN to battery thereby energizingiwind "mg I65 of relay CH! and causingrelaygcHllto' release by'neutralization of the flux'ofthe relay. Thejreleaseof' relay. CI-Il at'its armature 6! 1m terrupted the, v circuit through the. winding '68 1of: relay'CH2, fromjbattery through theother winding ofthe' re1ay,break contact and'armature I65 ofrelay.

CH !,-make contact and'armature 65'0f relay' CH2" to ground on conductor 2 of cable 64,"the adjust-v ment of thejrelays CHl'andfCHZ b'eingsuqhzthat" armature I65 of relay CHI eng'ages it's break contact before armature te'of'relay CHZJisdisengaged from its makecontact. Whenthe dis; tributor brush passes off segment CH rground' is removed from conductor of cable 54 and" relay. CH2 releases. The releaseoftrelay CHZ' atitST armature H; removesbatte'ry from conductor 14" of cable -69, thereby causing relay' TELFig. 1', to release. U v V When the distributor brush engaged seghient' RLS of the ring R3, ground was appl'iedto'con;

ductorj 3 of cable 54 thereby causing'relay RLS "to operate'and performthe same"functionin'regard' to a channel Zduotationthatit perfdrmed'dur ingthe first revolution of? the receiving" distrib utt'n-"for a channel! quotation. However, since in the example assumed, blank signals only are received'during the'secondrevolutior'irof thefr ceiving distributor instead of signals for a chana nel 2"quotation,the operation of relayfRLSfat this vtime is without efiect.

When the distributor brush 1 engages segment TB of the ring'R3 ground is applied to conductor.

4 of cableifi, armature l3andsmake'contactof: relay TBS, winding ofv relay 'I'RZ', make --cont'a;ct: andgarmature'l l of relay TR3'whi'chZisfconnected to battery thereby causing'relayTRTtorelease and remove battery from one end of .resistance 76, whereby winding Tlof relay 'I'R3 is;

made inefiective after, the'brush'has p'assedf'ofi;

segment TR. While the brush isin engagement with segment TR, ground'on conductor 4 ofcable c l is'applied through armatureQfl and make cone tactto the winding 78 of relay TR3 thereby hold ingo TR3 operated. Whenthe brush DBTpa'sses'lf off segment TR the locking*circuitforrelayTRS" Relay CH2, however; is held operated is ope'ned'and relay 'IRl'relases. The release of relay TR3 at its armat'ilres I 58fan'd I 59 applies ground to conductoi's 3 and 4 'of'cable I51, these circuits" being continued through contacts" ISI and I62 of the switching mechanism BI and contacts I63 and I64 of the relay G, thereby applying'ground'to conductors I55 and I56 to condition theselected indicators for operation in response to the first actuation'impulse to their windings.

The'engagement of segment LC of the ring R3 by the brush DB applies ground to conductor 5 ofcable B4, armature I9 and break contact of relay CH2 and thence to the winding of relay L02, thereby causing relay LC2 to operate. Since there is no selection of a channel 2 relay G during this revolution of the distributor, in the example assumed,' relay LC2 releases as the distributor'brush passes off segment LC. The passage of the brush DB over the segment RLS-I caused the relay RLS-I to operate and release as the brush leaves segment RLS-I It' will be recalled that when the distributor brush DB tengaged segment RLS of the ring R3 during the second revolution of the distributor, relay RL'S' operated; The operation of relay RLS at its armature 68 and make contact thereof applied'battery to conductor I3'of cable 59 thereby operatingr'th'e trip magnet 21 of the overlap units SOU and'POU.

The operation of the trip magnet 21 of the selection overlap units SOU is without effect at this time as no selection signals were received during this revolution of the receiving distributor; The operation of the trip'magnet 21 of the price overlap unit POU causes the'contact and reset bails to be set into operation to transfer the settings of the selection magnets corresponding to the price information during the first revolution of the receiving distributor to the associated contacts of the overlap unit and to be stored there until the selected indicators have taken their price settings. The timing of the price overlap unit is preferably such that the selected contacts thereof areclosed during the time that the tenth restoration impulse is being transmitted .to the indicators and remain closed until the distributor brush has passed segment 21 of the ring RI during the next succeeding revolution of the distributor.

The pulsing'relays PI, P2, P3 and P4, Fig. 1, are'operated by certain of the even numbered segments of the distributor RI when a stock has been selected in either channel of the display board, one or both of the relays LCI and LC2 having locked in series with the selected stock relay G and thus applying battery to conductor. 8 a of' the cable 69 extending to one end ofithe windings of the relays PI to P4. When this condition is present, relay PI operates to transmit seven pulses, relay P2 four pulses, relay P3 .two pulses and relay P4 one pulse during one complete revolution of the distributor RD in accordance with the setting of the contacts of the overlap unit POU thereby to operate the regenerators RGR-I, RGRa-2 and RGR-3 of channel I or channel 2, as the case may be, to cause theselected indicators to step from their normal positions to their new price settings.

With battery connected to conductor 8 of cable 69, relay PI operates seven times, relay P2 four times, relay P3 twice and relay P4 once during a complete revolution of the distributor RD. The indicators are moved to their new price settings by a proper combination of impulses from the ring RI through theaction of the pulsing relays PI" to- P4* and the regenerator' units RGRFI, RGR2-"a1ld RGR-3 Since the 0V6!- lap uri-it POU has taken a setting top'ost the price98%, the tens indicator will receive seven pulses from relay PI and two pulses from relay- P3,'the units indicator will receive seven pulses from PI and one pulse from relay P4; and the fractions indicator will receive four pulses from relay P2, one fromrelay P4 and'two from relay P31 The-manner in which these impulses are transmittedto th'eselected indicators will now be described. 7 p v A When the distributor brush DB engages segment 40 of the ring RI during the second revolu tion of the receiving distributor, ground is applied to conductor I 56* extendingv to the winding of relay PI from whence the circuit is continued through conductor 8 of cable 59,- conductor I2I, make contact" and armature l I9 of relay LCI to battery thereby causing relay PI to be operated during-the time that the brush" is traversing segment 401' Since;inthe'example assumed; the relay PI is employed to transmit actuation impulsestoat leastone of. the selected indicators, thefirst actuation impulse is'transmitted to the indicatorsfrom segment 4910f the ring RI;

Referring to Fig. 11 "of the "drawings, it"will be noted thatthe' codefor' the digit 9' comprises code'units I and" 3 marking in character and, since the'con'tact of the overlap unit POU corresponding to the firstunit" of the code is" connected't'o a contact of relay PI andthe contact of the overlap unit corresponding to the third unit of the code'for the tens digit is connected to a contact of relay P3; the relays PI and P3 are employed to transmit seven and two impulses respectively to provide -nine ,ir'n'pulses -f or actuatinglthe .tens indicatortto display thedi'git .9.

When armature. I61" of relay' PI engages its make contact,.-battery-is appliedto conductor I of cable I68; contact IBQ' ofthe-price overlap unit'PoU conductor 9I'of cable 69', armature Ill and break contact'of "relay-T122, conductor I of cable I24, armature I25 and .break contact of relay UFI,- windingofrelay AI, break contact and armature I26 of relay AAI and thence to ground, thereby causing-the regenerator RGR-I to operate and transmit the first actuation im-- pulse to the tens indicators of the selected stock. When armature I12 ofrelay PI engages its make contact, 7 battery is applied to conductor 5 of cable I68, contacts I'I3of the overlapunit POU, conductor ID of cable-59, armature-I14 and break contact of relay TR2,- conductor 2 ofcable' I24 extending to thewi-nding of relay A2; thereby causing the regeneratorRGR-2 to operate and transmit the first actuation impulse to the selected tens indicators.

When'the distributor brush DB engages segment'4fizof the ring RI, therelay PI again operatesrto transmit the second actuation impulse for causing the selected tens and units indicators to move to displaytheirdigits 2. When segment 50 of :the ring --RI is engaged by the brush DB, ground is appliedtoconductor Il'5'extending to the winding of relay P2; thereby causing relay P2-to operate and *applyibattery to the'conductors" 2,-6'a'nd 9'of cable I68. The circuits including :conductors 2 and 6 of'cable I68 are without effect as the associatedicontacts of the price overlap unit POU are open.. Theicircuitis closed, however, from batteryon armature I IS andimake contact of'relay P2, cable I68; conductors I" of the price overlap unit, conductor I I of cable I69,

agate- 55 armature 1 1:8 ..'and ::break: contact :of :relay LII'RZ, conductor '3. of cable I24 .extending'xtotrelay :-A3 of the. :regenerator RGR+3fthereby causing: this regenerator to operate and transmit :therfirst actuation impulsetotheselected fractionsJih- 5 vdicators.

When the distributor brushi ehgagesvsegments 52, .58 and B4 of the ring FRI ,xthet third, i fdurth and; fifth actuation impulseszare: transmitted" to thewt'e'ns'and-units indicators uby thetiofperatidn are tion'of relay-P2, the tensrandunits indicators having. received five actuation impulses .andith'e fractions indicators three "actuation "impulses during this revolution :of: the receiving distributor.

When the'distributor brush engagessegmentfl efthering RI. during the: third-revolution of the distributor, :relay PI operates to transnfit "the sixth actuation impulse: to *the vtens :andunits indicators ofthe selected r stock. The engagem'ent-of segment 6:bf:the ring"Rl by- 't'heqiistributor brush causes the relay P2 to operate and transmit "the fourth --a'ctuation impulse to the fractions indicators. When the disti'i-butor brush. engages segment 8; the: relay PI operates to transmit the seventh actuation impulse tothe tensxand units indicators.

-When the distributor brush engages segment M of the-ring RI, groundis appl ied to'conductor I19 thereby operating relayP-i to transmitthe eighth aetuationimpul'se'tc the selected units indicators and the fifth actuation impulse *to the fractions indicators. 'When armature I-'8l of 1 relay "P4 engages the make contact thereof, battery is applied to-c'onduetor Hot-cable I 68, contact ['82 of the price overlap unitand thence brealccontact ot-relayJDRZ conductor:3 disable lflgtherebyr cperating'theifracticnsrregenerator RGR==3vamdfcansing theaselected;fracfions;.;indi- .cators rto nbe 'rstepped ahead :in .;response :the sixth actnationii'mpulseitoedisplayfthez digit :6.

tWhenethe r distributor bnush :engages-tsegment 26:of;the2 ringl R I, battery is applied tor-conductor l5thereby operatingrpulsing :relay F23: and i'bhe regenerators E'HGR-'-:-'l "land KGB-43pm transmit thei-ninthaactuatiom impnlsecto the; selected; tens indicators andzthensevehth;actuation. iinpulseito the c-sel'ected ffractions arin'rlicators irespecti'vely. aThe indieatorscofttheUpen-,I'High,: Low "and Last ranges-rofathesselectedsstockihavemowizbeemset toiposti'therprice 97%.

\When Lthevd-istrihutOr brush cenga-ged segment ssz'fduringithi's thirdrevolution "ofathe distributor, relay "SS operated and fclosed 'a circuit ate the :clntchttriprmagnet' of the std'ck selector S but, sineeiinithe example-assumed: rhlanknsignals zonl-y are .rreceive'd 'athis revolutien of the :diS- tributonftheeperationrofflthe: selecter'isi iswvith- *"When the-ili'stributor brush engaged 1 segment CH cfathe-sringl'R3,ground-Was appl-i'ed to conductor :2 ref r'cabl'e armature 65 and 'br'eak contact'b'f relay"C-I-I2-;-winding 'dfrel'ay CHI from whence the circuit is ccntinued to the break contact and warmature 66' of relay SYN to battery, thereby causing:'rel'ay EH l to: operate and: at i'ts --armature 6happ1y ground 'from s'egmentfjGl-I- of therdistributor' tb the Winding GB 416i: relay EH2, the'ether==end of-ivhichzwihding isanomcnnected to; ground. When the brush leaves theseg'r nent iefiigroumiis Tefi ovedfro'm one end of the windang na df- -reIay' CI-H thereby causing: reiay eriz to operatein series with relay CH1 b'ver the? following circuit: I

Batte'ry' -oh armature fifi' andfbreak' ccntact of to-.=conductor ll of 'cab1e-E9,-'armature H8 and =30 relay SYN,Winding-df= relayGfI-Ii, -niake-"coiitact break contact of relay TEL-conductor scream l2 4, andthe'nce to the fractions regehera-tor unit RGR- 3, thereby operating regeneratorRGR'-=3 and -thus stepping the fractions indicators "to display the digit 5. v When armature-I83 of the relay rrsnga-ge its-make contact; battery is applied to conductor 8 of cable I 58, contact [84 cf the overlap "tin-it POU, conducto'riii of cable ml; armature I14 and break contact of relay -TR2; conductor 2 10f cable 124 and thence tothe units regenera'tor thereby operating the regenerator and causing the selected units indicators tdbes'tepped-ahead in respcns'e to-the eighth actuation "impulse-to display the digits. W he'n the distributor-brush-DB'engages segmerit 20 'ofthe ringRl, ground-is applied'to conductor r85 thereby causingpulsing relay P3 to operate during the time that the 'distrl-butcr brush is engagement with" thissegment. The

operation (if relay P3 atits arlmature lfifi 'and make contact thereof applies battery taconaum tor 3 of cable I58,- operated centa'et's 22-and -2l of i the price :overlap LUnit'P'POU, conductor r 6f cable -69 armature 3 H I; and break contact: of -relay .TRZ, conductor I: of cable. [24,- arinature' ms and break contact of relay UF-Jxand thencerto the winding of relay Al of the regenerator RGRI thereby causing this regenerator to operate and transmit the eighth-actuation impulse T conductor ll of cable -69, armature 11s and A" and armature 61: of -=r'elay "GEL-winding -68 6f relay-"err: m grcunu, "The cperat tn ti" ray CH2 at itsmrmatur 1n applid' 'battery to "con- When the distributor brush DB engages'seg Ifr'efitRES of i the 'i'i'rig -R3, gr0uhd" is-app1ied t0 tnducto'r 3 of cable 154 thereby ca'u'sing -r1ay RLS to I operate during --the time 1 that the brush is in-engagemejmwiththis segment. The open atiorl -o'f relay at its armature ll removes battery 'fll-il th lbekiiig'wilrdin'gfif relay LC! thereby causing relay LC]andthe-gang-relayjG ofthe 'seleeted steel: to release. jI'herel'ease of relay at its "a rframe Nil 'e'm'cives battery from eancmctcr 's 'bf'eable '|-a'a, =e aenuing=-by-way of cofi'di'lctol to the docking winnings or i 'ahge relays 03. HI-l; -I-i0"l -and thereby :eau'sing these rang'e relays to-reias after all-'61 =the actufition impuises 170 the sele'c't'edi indicators-have been: received.

Wheh'%the-di 'stnibutdr engagessegment m (if mean- R3, ground isapplied tb conducter "4 (if-cable catamarans -tearmatcre isand-break cbntac't Of'relay 'FRB winning of re ay TRZ bi'eak ctntaemne arm ture-14 f reIay-TRCt-andthenCe to battrmthefeby musing-reia m2ito ape-rate and apply battery ar as-Laramiewane-make contact thereof to one end of the resistance 16'. The other end of the resistance is connected to ground on conductor 4 of cable 64 by way of armature 90 and break contact of relay 'I'R3. When the brush leaves segment TR ground is removed from conductor 4 of cable 64 thereby causing relay TR3 to operate from battery'on armature I5. and make contact of relay TR2, resistance I6, winding 11 of relay 'TR3 and thence to ground. The operation of relay TR2 at its armatures I23, I38, and HI connected the channel I regenerators to the contacts of the restoration' pulsing relay PR. The pulsing relay PR is prevented from operation, however, as the distributor brush passes over the restoration segments since a gang relay G is not selected during this or the succeeding revolution of the receiving distributor and neither relay LCI nor relay LC2 is operated at any time other than the time when the distributor brush is in engagement with segment LC of the ring R3thereby removing battery from conductor I2I extending to the winding of relay PR.

The operation of relay TR2 at its armatures I II, I I4 and I18 disconnects the regenerators of channel I from the contacts of the overlap unit POU and connects these contacts to the regenerators of channel.2. The channel 2 regenerators, however, are not operated over 'this circuit as all of the selection contacts of the price overlap unit are open and, furthermore, none of the pulsing relays PI to P4 will operate to transmit impulses to the overlap unit-,POU as battery is not applied to one end of the winding of these pulsing relays by the operation of either relay. LCI or LC2 at a time when ground is applied to the other end of the windings of these pulsing relays by the brush DB. When the distributor brush engages segment LC of .the ring'R3, ground is applied to conductor 5 of cable '64, armature I9 and make contact of relay CH2 and thence to the winding of relay LCI thereby causing relay LCI to operate and. release as the distributor-brush passes off segment LC. The operation of relay LCI at this time is without effect; The engagement of segment RLSI by the distributor brush causes the operation of relay RLS-I but since none of therange storage relays RI to R4 are operated at this time and no gang relay'G was selected for operation during this revolution of the distributor, the operation of relay RLS-I is without efiect,

The distributor now makes a fourth revolution causing relay SS to be operated by the en- Y gagement of the brush DB with segment SS of the ring R3 and the clutch trip magnet CTM of the stock selector S is operated but without effect since none of the stock selection magnets SID to S3D are operated.

When the distributor brush engages segment CH, ground is applied to conductor 2 of cable 64, armature 65 and make contact of relay CH2, armature I65 and make contact of relay CHI, winding I66 of relay CHI, break contact and armature 66 of relay SYN and thence to battery thereby energizing winding I66 of relay CHI and causing relay CHI to release. Relay CH2 remains operated over a circuit including a break contact and armature I65 of relay'CHI, make contact and armature 65 of relay CH2, conductor 2 of cable 64 and segment CH of the ring R3 until the distributor brush passes off segment CH and removes ground from this circuit thereby causing relay CH2 to release.

The engagement of segment RLS by the distributor brush causes the operation of relay RLS during th time the brush is in engagement with this segment.

When the distributor brush engages segment TR the relay TR2 releases and a the brush leaves segment TR, relay TR3 releases. When thedistributor brush engages segment LC, ground is applied to conductor 5 of cable 64, armature I9 and break contact of relay CH2, winding of LC2 from whence the circuit is continued to battery, thereby causing relay LC2 to be operated during the time that the brush is in engagement with segment LC.

As the distributor brush engages segment RLS-I, ground is applied to conductor I'I8 thereby causing relay RLS--I to operate during the time that the brush is in engagement with this segment and release as the brush leaves the segment. When the distributor brush has completed this revolution, it comes to rest in the position shown on Fig. 1 of the drawings as the tongue of the line relay is resting against its marking contact M at this time and the circuit to the distributor start magnet SM is therefore open, the distributor having now made 4 revolutions.

With the distributor at rest at the completion of the fourth or any even numbered revolution, the receiving apparatus is in condition to receive signals for a channel I quotation during the first succeeding revolution o'fjthe distributor. If, however, the first quotation to be transmitted is for a channel 2 stock, blank signals willfbe received during this first revolution of the distributor, the quotation signals for channel 2 being received during the second revolution thereof.

When the price to be posted does not require a change in the tens digit 'of the price, the tens indicator is prevented from operating by the operation of relay UFI or UF-2, as the case may be, which at its armature I25 interrupts the circuit to the tens regenerator unit associated with the channel with which the tens indicator is associated.

Referring now to Fig. 12 of the drawings, it will be noted that certain ranges; as for example, range Last (UF) comprise a code combination whereby the range relays RI to R4 take settings such that battery is applied to conductor I of cable IOI extending to armature I89 of relay TRI from whence the circuit is continued either through conductor I of cable I03 to cause the operation of relay UF-I or through conductor 1 of cable I9I to cause the operation of relay U'F' -2 in accordance with the operated condition of relay TRI. Relay UF'I when operated locks by way of its make contact and armature I92 to conductor I05, conductor 5 of cable I06 to which isapplied battery by the operation of relay LCI and relay UF2 when operated looks by way of its armature I93 to conductor I of cable I06 to which battery is applied by the operation of relay LC2. When the new price has been posted the release of relay LCI releases relay UF-I and similarly the release of relay LCZ causes relay UF-2 to release.

Special stock posting Certain stock postings require that four digits be posted in ranges other than close and that digits higher than I be posted in the fractions position. Whereas in the illustrative embodiment of the invention the prices of such stocks are transmitted on the second channel, it will be acc nts understood thateithcr channelmay ,be employed for such transmission. To each such stock "is assigned three selection numbers, each 711111111361 comprising three .digits .and difilering from :the otherrtwo number's onlygbythezhundreds digitof .the number. The threedigits employed .as himdreds digits are 6, and-8.

Ihe stock bar for-sucha stockdifiers from the other stock barsin that the first two lugsthereof corresponding to the 'first two code units of the hundreds stock digit are removed and the second-two lugsare bent to their spacing-positions, thesecond two :lugs corresponding to the third and fourthcode units of thehundredsstock digit. The remaining lugs are bent in accordancewiththe-:tendsand units-digits of the stock number and the channel of the stock. This .stock bar, in so far as hundreds -code .digit is concerned, will -move on hundreds digit :1 or 8 since the-code for these numbershas code units:

3 and :4 thereof spacing in character.

Whenever the received stock number has the hundreds digit 6, the third and fourth-code units -ofthe hundreds digit are both marking -in character, andthe selection overlap unit SOU is so: arranged thatnei-ther the third her fourth selection-magnet of the stock selector is operated. :Whenthe second and third code-units of the hundreds digit of the stock number, received and stored in the selection overlap unit SOU, areboth marking -in character, contact 1-94 is moved out of engagementwith contact 4'95 and contact 196 is disengaged from contact -l-'9-1, and the circuit between the first digit selection gnagnets SiD3 and Sl-D-i of the stock selector S and conductor of the cable 69 is interrupted, thereby preventing the second and third selection magnetsorthe selector S from operating whenbattery'is applied to this conductor. If the third or fourth code unit of the hundreds digit should -be spacing in character, however, battery through contacts 4-55 and 194, or l-Qfl and 1-96 would beapplied to the third or fourthselection magnets oi the stock Selector, as the case may "be. Therefore, when the hundreds digit'fi received, although it comprises code units it and i marking, the stock selector code bars :3 and 4 corresponding to the selection magnets S-ID do not move and the special stock bar will, therefore, be selected for operation.

Th s a rangemen pr vides a steel; b wh w c er t cn hundr ds c de 6, 1 or .8 pr vid li ns and mute c ans c th s ock numbe r ce e a e i accordan e with t e t n a units digits formed in the bar. When hundreds ced d i 6 is t ansmi ted; t e .e c k is se c the menner o a re ula st kicwere wh n h n reds c e dig ts o 8 a e t m t ed. t ul n i cuit a c e ,by t

.operationof relays R'Iand RTL-J, Fig. 3. Each c the e e a rr s c re eq by a oc a w-n is en ic mec tha th hu d eds ced 1 markin :2, 3 and 4 spacing) is emp e t r the R bar and :the hundreds code 8 (2 marking, VI, 3

and 4 spacing) for the bar 'RT-.-:I. 'The tens of the stock number, one or the other of these bars will move and close their associated contacts.

When the RT-bar 29d moves, relayRT operates at ;.the same {time ,as'zthe sane {relay :6 over the -following circuit: battery lat armature L852 an :break contactvof =relay zRRl, armature 18,3 and 'ebreak .contact of relay BBS-eel :conductor '1] .9 ;cable :59, armature 84 and :break contact.of-;re lay CH2, armature I99 and,-,make vcontact :Qf .relay TLCn-iZ, conductor :3 .of .cable '59. contact 20 I of :the bar 1 96,. conductor}; of :cable:;6;9;, winding of .-relay :RT, and thence :to ground. fl he operation of relay RT .at :its armature .202 ,closes a locking .circuit ;for :the relay :to conductor-.203, -make .contact and armature 2340f relay Lfirei .to battery thereby :holding .relay RT operated .until after relay LC-.-2 :has released.

The .operation .of ,relay :RTat :its .armature 22,65 :interrupts the circuit extending :to .the fractions regenerator .AA3 of channel .2 by way of .armature 266 and :break .contact of relay aRIll and conductor-B of cable .1724, thereby preventing .the ira-ctions regenerator lfrom pulsing. When armature 208 of relay RT operates, the circuit of the tens regenerator unit of \channel :2 is switched whereby this regeneratorcwill respond to pulses transmitted over the limits .channel, the circuit extending now :from :the strappedcontacts of the units selection contact of the :price overlap unit POU, conductor #9 of cable -69, strapped contactsof the -.units selection contacts of the price overlap unit, conductor H) of cable 69, armature 1 1- 1 and make contact of relayTRZ, make contact and armature 20:! of relay RT, armature 2H and break contact of relay .RT-I, conductor 4 of cable 124 and-thence *to the ten regenerator unit of channel '2.

The op at on o re a a it armature 208 disconnects the tens regenerator from the tens pulsing circuit and connects the tenspulsing circuit to the units regenerator whereby the u t reeen atcri s p ed over the tens channel, the circuit including conductor *9 of cable 6. arm tu e "13 make c n ac of r a f R conductor '4 of cable I 35, armature and break cpqntacli of relay FIE-+2, conductor '2 of cable I86, make contact ,and armature 288 of relay a m ture a d b eak .contact o elay RTI, conductor Qf Gable 1'24 extending to'the n t ecener tq of cha n l -2. fl e perat en o relay RT a its ar atur .212 d nn ct t pu ing c cu ir m e un e eneratcr of c ann l, .2 estab is e o end c crs 2,1 and .1 1 o cab e 2 thr ugh the O er e ne f he ran e rel ys G S O -2. rHI.2 L -2 .andLA-l c ch nne a d c ai c t c n uct rc 19, I? and 5 o abl 16 xt nd ng to armatn s 1 2 of re ay RT i a o danc the r ng relays w c cpe ed at the t me Wi h relay .R unepera ec h s c rcuit are cont nu d li 'c ieh t e re c nta t o armatnr s .212 o re a to cause the rat on of the uni e e er to 's, .cne .Qfth u ts, for example, i c uding conductor l o ca 2 ex ending thr u h operat d contacts 215 o t e sl d e m mbe 1. ccntacts .215 o e elec d sa e re y Q a d thence to the un t indicator of the a t range th thev re- .l v R ope te t s ci c i i d sconn cted from c n u o 5 and conn c ed to conductor .5 o cable ,2l4 extending through operated contacts 2|] of the slidab-le member 9], contacts 21% of the relay G and thence to the hundreds gindica-tor of the last range. The result of the operation of relay ET is to causeaprice received on the tens and units channels to be posted on the hundreds and tens indicators respectively.

When the RT! bar 2| 9 moves the associated 'contacts 22I. are closed, thereby applying bat- -tery to conductor 4iof. cable 69 and causing .relay RTL to-operate and lockibylway .ofits. make contact andarmature. 22 2, of conductor 203, .make -contactand armature 1204 of relay LC2 and thence to battery. it p The operation of relay. RTI at itsarmature .2 II interrupts the wpulsingecircuit to the tens oregenerator of channel 2 and connects the tens .pulsing circuit to conductor of cable I34 extending to the unitsuregenerator. 'The operation of relayRTI at itsarmature 209 disconnects the units pulsing circuit fromtheunits regeneratorand connects-the pulsing circuit to theiractions. regenerator byway of conductor 46 ofcable I24v and atits armature, 205 interrupts the fractions pulsing circuit extending ,to the .fractions regenerator. ..The result. of this oper- ;.ation of relay RTI isto posta, price received on the, tens and units channels on the unitsrand fractions indicators .whereby. the, fractions indicators may .be .set. to any. digit from, 1 ,to 9 Hand0. The result of ,this ,operation, briefly .stated,,is ltor.post.a price sentlout as tens and units as units and fractions respectively. I

fI he posting of a special price comprising four digits requires ,two transmissions, the first trans- .mission causing, the ,operation of relay R'l and .theposting, of the hundreds and tens di its in accordance .with thetens and unitssignals received whereas during the second transmission,

e elavp i ate an aus t tee an units digits received to be posted inthe units and fractions positions of the quotation board.

Posting-yesterdays close Yesterdays closing price includes the hundreds digit of the price, if any isto beposted, and when such is the case the full price 'of four digits requires two transmissions. During the first transmission the hundreds digit only is posted, the signal being received over the'tens digit channel of the price accompanied by the range signal YCL (H) which comprises the unit 2 marking and code units I,' 3 and 4 spacing in character. With 'r'ange code unit 2 marking, the line relay LR applies battery to conductor 53 extending to one end of the operate winding of relay R2, the other'end of which is connected by way of conductor 4 of cable '56, segment 39 of the ring RI, distributor brush DB and thence to ground at the ring R2 thereby causing relay R2 to operate and look under control of 'relay RLS-I. With relay R2 operated and relays RI, 'R3 and R4 unoperated, a circuit is completed from battery on conductor 6 of cable 69, conductor 95, armature 91 'and break contact of relay RI, armature 98 and break contact of'relay R4, armature 99 and' break contact of relay R3, armature 223 and makeco'ntact of relay R2, conductor I of cable IUI, armature I24 of'relay TRI and make contact thereof (in the case of "a channel I quotation), conductor I of cable I03, winding of range relay CLH-I and thence to ground thereby causing relay CLH-I to' operate and at'its'armature I25 close a circuit fromthe tens regenerator RGR-I "as follows: battery at armature I3I and make contact of relay AI, conductor I of cable I32, armature I25 and make contact of relay CLH-I, conductor I of dreds, digit position of rangeaYCL of thelselected rSiJOCk I Operation of: range .relay CLH-el -at its earmature..225. closed .the circuitfrom the tens regenierator RGRm-I whereby 1 the .operation of .relay AI causedbattery at ,armature, I3I ,thereof to be applied to conductor. I .of cable I32, armature 225 andmake contactof. relay.CLH.- -I, .conductor I ,of. cable.l34, contacts1226 of .thefslid- ,able member ,9I, contacts 22'Lof relay G, and thence to the hundreds indicator unit .of the yes terdayfs, close range, thereby postingthe .price digit receivedover the tens channel inothe hundredspcsition of yesterdays close price.

During, the revolution of the .receivingdis- .tributor in which thetens, ,unitsand fractions price digits are receiyed,the range signal spacin spac n markin markin cor p d n ,to the range v.YCL(TITUFl is received. .Thisrange si n causestheisneue of the ,linerelay LRto be resting a ains its. ,contact. S ,durin the time segments 3] and 3 9 of the ring ,RI ,are crossed ,b th brush DB and a ainst its contact, M

duri th t m the th brush is i Contact with s gmen 4. and .43 ,o the d st ibutor ripen], ther app n gr un t conducto s and 6 .9 sabl 56 and thu operat n renee la shs an R t batter q rmnduete jfi. ,With ran I rel .3 an R4 o e at d en rels an ,and conductor} of cable I03 thereby causing rei rqi .9ne ls e s lo k pond i 1,0 a t s s ermsiureslSJJiand ,23' qm l i ir i r om th wit en t eet p dicators of the range YCL by way ofconductors {a 3 l lilexte id nsi n lsin eontes th re n rates .BQR-IQ 363-2 an B Rt-ir s i e .o'll eiensi misse ra tions price signals received thus cause the tens,

limi s an estims ied seie s o its ran XC topostthis informationin accordance with the numerical value of these signals.

Repostingihe display boardtion'may be reposted; after thetrouble' has been corrected, to the exclusion of other receiving stationsin the following manner. When the "cause of --failure-has 'beencorrected, it-is the usual practice-to notify the transmitting station to thiseffect and the operators at -the transmita l I3 and hence th tl s ni et 0 memb 9 an e a G to t e u d edsie r eate un t fth Yesterda .Qls aneetcause,- th nd ca o t qner t a o tthedis .l ma l e eve ih ie s ,d eits snn l in the 1.

- ing station, after receipt of .this information,

proceed to transmit all of the quotations posted 7 on the checkboardat the-transmittingstation in additionto the newrquotations appearing upon th v ti kert pe- ,f fh ai istiqn take from th rehes sbesrd under thes ondemn ar h r inafter referred as rewrite quotationsiand are ;P. 9 las xms i bye s e s r r s na i'lghis special signal-comprises code I, 2

and} spacing,4 marking and Sspacing and is received by'the receiving station on segments 2I, 29 3 I, 33 and 35 of the distributor ringltl'of 

